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(DSGE), we applied a tractable static deterministic partial equilibrium approach using the IS-LM framework. We derived …
Persistent link: https://www.econbiz.de/10012131468
Two approaches are considered to incorporate judgment in DSGE models. First, Bayesian estimation indirectly imposes … observed interest rates are interpreted as judgmental decisions, they are found to be consistent with DSGE models for long …
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-country DSGE model with financial frictions and cross-border spillover effects. We calibrate the model for the four largest euro area …
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monetary policy. We find that an identically-sized policy shock became less effective over time. We use a DSGE model to show …
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Our paper addresses the issue on the interaction between monetary and macroprudential policies in small open economies for different exchange rate regimes. The need for macroprudential policy arises from exacerbated macroeconomic fluctuations due to frictions in the financial system as in...
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